2nd Oct 2006 07:01
Macfarlane Group PLC02 October 2006 Macfarlane Group PLC acquires Bloomfield Supplies Limited 2 October 2006 In line with the Group's strategy to develop its Packaging Distributionbusinesses, Macfarlane Group PLC ("Macfarlane") announces that it has todayconcluded an agreement to acquire Bloomfield Supplies Limited ("Bloomfield"), apackaging distributor based in Gloucester, for a maximum cash consideration of£2.0 million. £1.15 million of the consideration will be paid immediately, withthe retained consideration becoming payable in the final quarter of 2007,subject to certain trading targets being met in the year to 30 September 2007.Bloomfield complements Macfarlane's existing Packaging Distribution activities,primarily in the South-West of the UK. The business made an operating profit of £0.3 million on turnover of £3.9million in the year to 31 May 2006 (audited). Gross and net assets in theaudited accounts at 31 May 2006 totalled £1.2 million and £0.2 millionrespectively. Further information: Peter D. Atkinson Chief Executive 0141 333 9666 John Love Finance Director 0141 333 9666 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Macfarlane Grp.